CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

How Can I Avoid a Second Bankruptcy?

Second Bankruptcy St Petersburg, Pasco, And Tampa Florida.Bankruptcy is viewed as a solution to serious money challenges. It offers a brand new start and helps you get back on your feet after a tough time.

But what if bankruptcy doesn’t solve all of your problems?

What if you’ve filed and after several months or years you find yourself in another serious financial situation?

Should you file again? Is a second bankruptcy even an option? Is it too late to amend your current bankruptcy plan instead of refiling?

Will bankruptcy help protect a vehicle from repossession?

Before you decide what to do there are a few things you need to consider.

How Long Has It Been Since You First File for Bankruptcy?

This is important for a couple of reasons.

First, there are legal limits on how soon you can refile.

If you’ve recently completed a Chapter 13 repayment plan or your debts were just discharged in the last few weeks or months in Chapter 7, you’ll need to wait to file.

To learn more about how long you need to wait to file based on your current situation, check out this information.

Another reason to consider how long ago you filed is that maybe there’s no need to file again.

If you’re in the midst of a Chapter 13 bankruptcy you might have the option of amending the plan to include your current financial concerns. In some cases, if new debts arise (this is often the case when you’re dealing with medical debt), adding them to a Chapter 13 plan might trigger a qualification for Chapter 7 and many of your debts will end up being discharged.

In this case, additional financial woes mid-bankruptcy can be a positive occurrence.

Avoiding a Second Bankruptcy

For many people, the need for a second bankruptcy comes several years or longer after their first filing. If this sounds like your situation and you suspect your financial challenges might be headed toward a second bankruptcy, you should do what you can to avoid filing.

Start by contacting your creditors. Many are willing to work with you to help you avoid bankruptcy because they know they stand to gain more by offering flexibility.

If you’re unable to work out a payment plan or the plan isn’t enough you still have options. Sometimes resolving a financial issue is as simple as getting a refresher in what you learned during your first pre-bankruptcy counseling course and applying that information to your current situation.

One piece of financial advice is true whether you’ve filed before or not: never ignore creditors and credit problems. Hoping the problem will go away makes things worse. You are better off speaking to creditors and trying to come up with a resolution or taking more drastic action by filing, even if it’s your second time.

If you are concerned you’re headed toward a second bankruptcy or you want to do everything you can after your first bankruptcy to avoid the risk of a second filing, we can help. For more information on how to best manage your financial situation, contact the Law Office of Robert M. Geller at 813.254.5696.

Archive

Video Testimonials

Tampa Bankruptcy Law Blog

Are Medical Issues Forcing You Into Bankruptcy?

Many Americans wind up in debt because of medical bills. One of the most common reasons for filing bankruptcy in...
Read More

Law Offices of Robert M. Geller, P.A. Congratulates Danielle Austin For Receiving the Patriot Award from the United States Department of Defense

Award Recognizes Support of Guard and Reserve Members Who Work for the Organization Tampa, Florida, June 29, 2021 – The...
Read More

Is Your 401k or Other Retirement Savings at Risk in Bankruptcy’s Liquidation of Assets?

If you’ve spent years saving for retirement, putting that money at risk when you file for bankruptcy is likely one...
Read More

Tips to Help You Protect Your Assets When You File for Bankruptcy

One of the most intimidating aspects of filing for bankruptcy is protecting your assets. Worrying about whether bankruptcy puts their...
Read More

How Does Bankruptcy Affect Vehicle Ownership? What Assets Can You Keep through the Bankruptcy Process and Does It Affect Your Car?

Many people struggling financially avoid filing for bankruptcy because of concerns about losing important assets like their vehicles. The good...
Read More

Is There a Legal Way to Hide Assets When You File for Bankruptcy?

Filing for bankruptcy can be an overwhelming experience. The relief you receive when you file helps you feel better about...
Read More

Do Bankruptcy Trustees Take Your Savings? What is Considered an Asset in Bankruptcy and How Does It Affect the Money You’ve Saved?

Bankruptcy trustees gain access to a variety of your assets when you file. But what is considered an asset in...
Read More

Can Filing for Bankruptcy Help You Protect Your House?

fiHow filing for bankruptcy affects your home is one of the greatest concerns people have when they consult with bankruptcy...
Read More

Should I Refinance a Student Loan I Can’t Discharge in Bankruptcy?

Student loan debt is overwhelming many people. Could refinancing be the answer to help you avoid bankruptcy if your student...
Read More

Can Student Loan Consolidation Help You Avoid Bankruptcy?

One of the most common questions people have when they consider bankruptcy is “can student debt be discharged in bankruptcy?”...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions